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Deposits and Savings
Predictive analytics drive better deposits and savings
Earnix helps banks apply an analytical approach to the challenge of balancing revenue mix and growth by understanding and modeling consumer behavior and sensitivity. This approach can be applied on single products, across product groups and all the way to the portfolio level. In parallel, the flow of funds across accounts, including cannibalization and cross-product effects, is identified, measured and modeled to enable accurate forecasts.
Based on this modeling foundation, bankers can steer a data-driven deposit management and optimization process that improves performance metrics at the product, customer or portfolio level. Results can be predicted, visualized, and monitored over time within the Earnix software. Earnix allows the user to achieve a variety of goals including revenue mix and growth while finding the most efficient price to meet those objectives. The user also has the ability to set constraints by market, channel, product level and customer segment in order to customize the optimization of every unique pricing scenario.
Stop guessing, start predicting
The Earnix solution takes the guesswork out of predicting the impact of pricing changes. It enables deposit product executives to manage the entire portfolio and forecast the outcome of their pricing decisions. The Earnix solution allows bankers to:
- Utilize granular pricing to manage growth and revenue forecasts and align pricing strategies to the bank’s goals
- Target cross sell offers to the right segment at the right price
- Forecast flow of funds at the portfolio level to predict liquidity in different rate environments
- Proactively manage pricing negotiation exceptions, track its effectiveness and calculate an ROI on the excepted investment
- Manage deposit fee income, by modeling price elasticity. Align fee income strategies to goals by understanding the impact of fee changes on revenue, attrition and ability to acquire new households